Grupo Financiero Galicia (NASDAQ:GGAL) Shares Up 4.3% – Here’s What Happened

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was up 4.3% on Monday . The stock traded as high as $44.10 and last traded at $44.06. 333,896 shares traded hands during trading, a decline of 71% from the average session volume of 1,143,210 shares. The stock had previously closed at $42.24.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GGAL. Weiss Ratings lowered Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. increased their target price on Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.33.

Grupo Financiero Galicia Stock Up 1.2%

The stock has a market cap of $7.11 billion, a P/E ratio of 33.81, a P/E/G ratio of 0.23 and a beta of 1.29. The company’s 50 day moving average price is $47.87 and its 200-day moving average price is $46.81.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings data on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.70 billion. Equities research analysts anticipate that Grupo Financiero Galicia S.A. will post 3.94 earnings per share for the current year.

Grupo Financiero Galicia Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were issued a dividend of $0.0531 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a c) annualized dividend and a yield of 1.4%. Grupo Financiero Galicia’s payout ratio is presently 44.27%.

Insider Activity at Grupo Financiero Galicia

In related news, Director Silvestre Vila Moret purchased 224,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was bought at an average price of $5.36 per share, with a total value of $1,200,640.00. Following the completion of the purchase, the director owned 3,000,000 shares in the company, valued at approximately $16,080,000. This represents a 8.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders bought 802,791 shares of company stock valued at $4,253,109.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Verde Servicos Internacionais S.A. acquired a new position in shares of Grupo Financiero Galicia in the 1st quarter worth approximately $934,000. Moerus Capital Management LLC bought a new stake in shares of Grupo Financiero Galicia in the 1st quarter valued at $8,179,000. UBS Group AG increased its position in shares of Grupo Financiero Galicia by 146.7% during the fourth quarter. UBS Group AG now owns 782,969 shares of the bank’s stock worth $42,233,000 after buying an additional 465,639 shares during the period. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Grupo Financiero Galicia during the first quarter worth $7,879,000. Finally, Fourth Sail Capital LP acquired a new stake in shares of Grupo Financiero Galicia during the fourth quarter worth $16,653,000.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.